GERMANY – ECONOMY RESPONSIBLE FOR NEARLY 5 MILLION JOBS IN THE EU

The Germany economy is responsible for 4.8 million jobs in the EU, according to a study from Swiss-based Prognos Consultancy commissioned by the Bavarian Industry Association.

The study cites the demand in Germany for industrial commodities and upstream services as boosting jobs in other EU countries. In Poland alone, around 890,000 jobs are directly related to German demand, which is more than any other EU country. In 2015, Germany imported goods worth around €620 billion from other EU countries. A downturn in the Germany economy would have the effect of lowering economic output across the European Union by €36 billion euros by 2023, according to the study.

“Our study debunks the myth of the alleged detrimental influence of the German market competitiveness on our neighbouring states,” Bavarian Industry Association managing director Bertram Brossardt said. The Bavarian Industry Association commissioned the report due to criticism of Germany’s high trade surplus, which reached a record high of €252.9 billion.

source: www2.staffingindustry.com